The Egyptian Cabinet has approved the $200 million loan agreement with the European Bank for Reconstruction and Development (EBRD), which is set to finance the modernization of a number of selected gas infrastructure facilities aimed to boost Egypt’s energy efficiency and to decrease environmental impacts, Amwal Al Ghad reported.
Moreover, the loan will be provided to waste heat recovery installation, infrastructure of gas metering data systems, installing turbo-expanders, infrastructure of a separation plant for liquefied petroleum gas (LPG), and installation of systems to remove carbon dioxide from wet gas.
The loan comes to support Egypt to focus on gas pipeline as well as transmission network.
The loan is divided into $125 million directed to the waste heat recovery project, while the remaining $75 million will support the rest of the projects.
The agreement was signed by the Minister of Investments and International Cooperation, Sahar Nasr, and EBRD in December 2017 to support the energy-efficiency project of the Egyptian Natural Gas Holding Company (EGAS), Egypt Oil & Gas reported.